FIRST-TIME HOMEBUYER TAX CREDIT
As Modified in the American Recovery and Reinvestment Act*
|
February 2009 FEATURE |
REVISED CREDIT - EFFECTIVE FOR PURCHASES ON OR AFTER JANUARY 1, 2009 AND BEFORE DECEMBER 1, 2009 |
|
Amount of Credit |
Lesser of 10 percent of cost of home or $8000 |
|
Eligible Property |
Any single family residence (including condos, co-ops, townhouses) that will be used as a principal residence. |
|
Refundable |
Yes. Reduces (or can eliminate) income tax liability for the year of purchase. Any unused amount of tax credit refunded to purchaser. |
|
Income Limit |
Yes. Full amount of credit available for individuals with adjusted gross income of no more than $75,000 ($150,000 on a joint return). Phases out above those caps ($95,000 and $170,000). |
|
First-time Homebuyer Only |
Yes. Purchaser (and purchaser's spouse) may not have owned a principal residence in 3 years previous to purchase. |
|
Revenue Bond Financing |
Purchasers who utilize revenue bond financing can use credit. |
|
Repayment |
No repayment for purchases on or after January 1, 2009 and before December 1, 2009 |
|
Recapture |
If home is sold within three years of purchase, entire amount of credit is recaptured on sale. Applies only to homes purchased in 2009. |
|
Termination |
December 1, 2009 |
|
Effective Date |
All revisions are effective as of January 1, 2009 |
*Information obtained from Realtor.org.
Provided by:
Teresa Jones
teresa.jones@prudentialcarruthers.com
Prudential Carruthers REALTORS
400 N. Washington Street | Alexandria, VA 22314
202.510.3833 (Direct) | 703.836.1464 (Office)
703.836.5864 (Fax) | 800.799.1464 (Toll free)
http://teresa.jones.pcragent.com/
INTEGRITY * SERVICE * RESULTS
To get started on finding your dream home, call or email me today!
Northern Virginia Housing Data & Statistics
Reporting Month: January 2009
The Northern Virginia real estate market continues to evolve, especially with the large number of distress sales. Below you will find a monthly overview of the Northern Virginia market. Data includes sales and listings totals, and the average sales price, with comparisons to the previous year. The information is based on data from the local Multiple Listing Service (MLS) and Northern Virginia Association of Realtors (NVAR). It includes the most up-to-date statistics for your Northern Virginia** neighborhood.
Media reports speak in general terms, rather than local, so the information from the news report may not represent the reality of our local Northern Virginia housing market. Data from a knowledgeable real estate agent about the local market conditions benefits you as the Buyer or Seller.
|
JANUARY HOME SALES |
2009 |
2008 |
|
Detached |
420 |
299 |
|
Attached |
316 |
201 |
|
Condos & Co-ops |
262 |
216 |
|
Total |
(+39.98%) 998 |
716 |
|
Average Days on Market |
(-19.51) 99 |
123 |
|
SALE PRICE |
|
|
|
Average |
(-22.51%) $376,669 |
$486,060 |
|
Median |
(-20.00%) $320,000 |
$400,000 |
**Fairfax and Arlington counties, the Cities of Alexandria, Fairfax and Falls Church and the Towns of Vienna, Herndon and Clifton.
This overview of the Northern Virginia real estate market is based on information provided by the MLS and NVAR. More details can be provided if needed with regard to current activities and for specific zip codes within Northern Virginia.
Please don't hesitate to call or email me if you have any questions or want more detailed information about what's happening in our marketplace.
Provided by:
Teresa Jones
teresa.jones@prudentialcarruthers.com
Prudential Carruthers REALTORS
400 N. Washington Street | Alexandria, VA 22314
202.510.3833 (Direct) | 703.836.1464 (Office)
703.836.5864 (Fax) | 800.799.1464 (Toll free)
http://teresa.jones.pcragent.com/
INTEGRITY * SERVICE * RESULTS
To get started on finding your dream home, call or email me today!
Hello,
Facing Foreclosure? You're not alone.
In today's market, more home owners are struggling to keep up with their increasing mortgage payments. If you are a couple months behind, I can help by:
1) Assisting in re-structuring your mortgage payments
2) Assisting in negotiating a short sale without liabilities
3) Listing, marketing, and selling your home
4) Providing you personal client attention and tenacious follow-up to ensure quality service during your financial hardship
Time is of the Essence!! Please call or email me today so I can begin immediately, assisting you in preventing your home from going into foreclosure.
Sincerely,
Teresa Jones
teresa.jones@prudentialcarruthers.com
Prudential Carruthers REALTORS
400 N. Washington Street | Alexandria, VA 22314
202.510.3833 (Direct) | 703.836.1464 (Office)
703.836.5864 (Fax) | 800.799.1464 (Toll free)
http://teresa.jones.pcragent.com/
INTEGRITY * SERVICE * RESULTS
To get started on finding your dream home, call or email me today!
Hello,
With the tax benefits of buying, historically low interest rates, and many homes priced under $100,000 in Alexandria and surrounding areas, now may be the perfect time to purchase a new home. Whether you are looking for a primary residence or an investment property, let me help you in every step of the way. Call me today at 202.510.3833!!
Sincerely,
Teresa Jones
teresa.jones@prudentialcarruthers.com
Prudential Carruthers REALTORS
400 N. Washington Street | Alexandria, VA 22314
202.510.3833 (Direct) | 703.836.1464 (Office)
703.836.5864 (Fax) | 800.799.1464 (Toll free)
http://teresa.jones.pcragent.com/
INTEGRITY * SERVICE * RESULTS
To get started on finding your dream home, call or email me today!
 |
|
|
The Right Choice for your Next Move ** Prudential Carruthers REALTORS ** Old Town Alexandria ** 400 N. Washington St Alexandria, VA 22314
If you are looking for the personal service of a professional real estate agent, please contact me at teresa.jones@prudentialcarruthers.com. My mission is to work hard for homebuyers, home sellers, corporate clients, and investors in delivering pristine service in selling or finding your home, estate property, loft, or condominium.
ABOUT ME
Hello,
As a Prudential Carruthers Real Estate professional, I understand that buying a home or selling your home is a major step in your life. Thank you for allowing me the opportunity to work with you. Buying or selling your home is more than just a financial decision, it's an emotional one. That's why it's so important to choose the right real estate representative - one who's not just a "sales person", but one who will take the time to learn your needs and will care about them. As your full-service representative with years of experience, I will be your:
. Marketing Manager
. Transaction Coordinator
. Community Consultant
. Property Specialist
. Experienced Negotiator
. Trusted Advisor
. Real Estate Professional for Life
I will help you through every part of the transaction, and offer you complete services including Relocation (through the Prudential International Network), Property Management, Mortgage Services, Title & Settlement Services, and a Home Warranty. Contact me today for a no-obligation consultation to discuss specifically how I can help you with your current and future real estate needs.
Sincerely,
Teresa Jones
teresa.jones@prudentialcarruthers.com
Prudential Carruthers REALTORS
400 N. Washington Street | Alexandria, VA 22314
202.510.3833 (Direct) | 703.836.1464 (Office)
703.836.5864 (Fax) | 800.799.1464 (Toll free)
http://teresa.jones.pcragent.com/
Teresa's Real Estate Blog
INTEGRITY * SERVICE * RESULTS
To get started on finding your dream home, call or email me today!
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